Proceedings

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IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c.S.5, AS AMENDED

AND

IN THE MATTER OF
BETTY LEUNG


ORDER
(Sections 127 and 127.1)



      WHEREAS on June 23, 2008, the Commission issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Securities Act (the “Act”), accompanied by Staff’s Statement of Allegations, in relation to a hearing to consider whether it is in the public interest to approve the settlement of the proceeding entered into between Staff of the Commission and the Respondent Betty Leung (“Leung”);

      AND WHEREAS the Respondent entered into a settlement agreement dated June 23, 2008 (the “Settlement Agreement”) in which the Respondent agreed to a settlement of the proceeding commenced by the Notice of Hearing dated June 23, 2008, subject to the approval of the Commission;

      AND UPON reviewing the Settlement Agreement and Staff’s Statement of Allegations, and upon hearing submissions from counsel for Staff and the Respondent;

      AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

      IT IS ORDERED THAT:
  1. the Settlement Agreement dated June 23, 2008, attached to this Order as Schedule “1”, is hereby approved except that, on consent of Staff and the Respondent, the amount to be paid in accordance with paragraph 13(e) of the Settlement Agreement shall be $103,137.22, representing two times the profits made herein, and that a director and officer ban of any market participant be included;
  2. trading in any securities by Leung cease permanently from the date of the approval of the Settlement Agreement, except that Leung is permitted to trade only in mutual fund securities in one account on her own behalf, one account on behalf of her registered retirement savings plan, and one account on behalf of her locked-in pension plan, through no more than two registered dealers, to whom she must give a copy of this Order at the time she opens or modifies these accounts;
  3. acquisition of any securities by Leung is prohibited permanently from the date of the approval of the Settlement Agreement, except that Leung is permitted to acquire mutual fund securities in one account on her own behalf, one account on behalf of her registered retirement savings plan, and one account on behalf of her locked-in pension plan, through no more than two registered dealers, to whom she must give a copy of this Order at the time she opens or modifies these accounts;
  4. notwithstanding paragraphs (2) and (3) above, Leung shall have 60 days from the date of this order to effect liquidating trades only of any non-mutual fund securities that she owns beneficially or over which she exercises direction or control;
  5. Leung is permanently prohibited from becoming a director or officer of any market participant;
  6. Leung pay the amount of $103,137.22 to the Commission within 60 days of this order for allocation to or for the benefit of third parties in accordance with s.3.4(2) of the Act; and
  7. Leung pay costs of the investigation to the Commission in the amount of $5000 within 60 days of this order.
DATED at Toronto this 25th day of June, 2008.



" James Turner "
James E. A. Turner
" Suresh Thakrar "
Suresh Thakrar, FICB